I'm explaining the position, not arguing the point. It is advice that is commonly served in most programming circuits, to use exceptions for exceptional circumstances only, and holding that position, it is not a misfeature that exception handling is not the most heavily optimized aspect of the language.
It might be some consolation to people holding a contrary position, that generating backtraces _is_ one of the more heavily optimized aspects of the language, since that was a hot spot that came up when running the pike test suite, which was used as test material for an optimization sweep a few years ago.